Dow 15000? Try 116,200

When the Dow Jones Industrial Average crossed 15000, Chuck Jaffe started dreaming of a Dow 116K. He joins MoneyBeat. Photo: Getty Images.

This transcript has been automatically generated and may not be 100% accurate.

... that will draw Table Wall Street Journal on Wednesday the ball over fifteen thousand ... you think fifteen thousand is an achievement ... how about all hundred and sixteen thousand it could happen ... might not even be as farfetched as it sounds ... course that that the short term prediction was predicting it ... Chuck Jaffe for MarketWatch ... is he predicted that ... begin to talk about them in a good predicted what it means for an all stock any deal ... while ... traveling on high here is try and a stronger while people of this column with out ... their boats and columnist job by understanding and is trying to get people's goats I think ... not ... really true ... you know when ... the market when the market across the miles to my fifteen thousand people are always looking into going is is means to hide his means to low ... and ... arguably ... and I may not arguably the best speech I've ever heard of the market ... was given by Bill Berger who was the founder of the Berber fund was nineteen ninety five ... the market was at about forty three hundred ... and he was in his seventies ... Annie came to Boston and gave a speech in which he basically said look I'm not can tell you where the market's going right now and ... go back to nineteen ninety five we just control of America crisis in the war yet quite ... into full swing in the Internet bubble ... he should buy your Kelley ... the market's gone from like five hundred to almost forty five hundred in ... in my forty five years is an investor and I think the growth will be roughly the same over the next forty five years ... so ... if you extrapolate that out came out with a hundred and sixteen thousand two hundred ... now the market was at forty three hundred and fifteen does like what the I ... forty three hundred right that she's forecasting ... when they're sixteen thousand two hundred by the year twenty forty ... okay so ... that's where we're close to that ... but this is a guy who died in nineteen ninety nine he and see the end of the Internet bubble he never saw the bear market coming he never saw the financial crisis into thousandeight ... and his point was ... ultimately it doesn't matter bulwark of what time you should still expect the market to go up and Africa was up a reasonable amount ... that's what you wanna capture ... in spite of all that hair or ... hair pulling in handling if you do every time the market goes up or down ... so a few more or less on target to his eighteen years since then about the Dow's roughly triple ... honor his his prediction on track were we own the team I Wednesday he's rightly off by about ten percent ok you know you are terrible ... know when you consider that the ... forecast was over forty five years write the by now the Dow if it were to keep the patients kept since he made that forecast ... the dollar cross hundred sixteen thousand two hundred ... somewhere between twenty forty and twenty forty or so that within ten percent ... then you might actually get there lol sooner and ... that the bigger point of this ... these that regard the ... forecasts to regardless of how you react ... to ... all the market has hit fifteen thousand is a good is that that ... the bigger boys still you gotta capture the long-term trend ... not a short-term whatever happened now because ... ultimately it's the long-term trend is going to matter the most ... right ... and you have to put that into some perspective ... on the sixteenth of the same happens but twenty forty ... and the weather really work out too for investors sounds spectacular ... isn't spectacular Origin would have a normal ... diet normal yes it so it's around seven percent ... and that's what seen since he gave a speech in the fall of nineteen ninety five we've been roughly about six point nine percent ... on the down so ... that slow the pace of its peacekeeping ... and freaking get there would be a little bit more than seven percent that it does on his time frame a little bit less if it doesn't ... as has been going so ... you know ultimately that's ... that that ... then on to Kathy Aksland stuff thanks alot ... you bet they strapped me